Virtus Advisers LLC Makes New Investment in Marcus Corporation (The) $MCS

Virtus Advisers LLC bought a new stake in Marcus Corporation (The) (NYSE:MCS) in the third quarter, Holdings Channel reports. The institutional investor bought 26,681 shares of the company’s stock, valued at approximately $744,000.

Several other hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp purchased a new position in shares of Marcus during the second quarter worth about $6,481,000. Heartland Advisors Inc. raised its stake in Marcus by 24.4% during the 1st quarter. Heartland Advisors Inc. now owns 255,000 shares of the company’s stock valued at $4,378,000 after acquiring an additional 50,000 shares during the last quarter. Empowered Funds LLC raised its stake in Marcus by 2.8% during the 1st quarter. Empowered Funds LLC now owns 181,793 shares of the company’s stock valued at $3,121,000 after acquiring an additional 5,023 shares during the last quarter. Quantinno Capital Management LP lifted its position in Marcus by 8.5% during the 1st quarter. Quantinno Capital Management LP now owns 102,006 shares of the company’s stock worth $1,751,000 after acquiring an additional 8,024 shares during the period. Finally, Bank of America Corp DE lifted its position in Marcus by 1.8% during the 1st quarter. Bank of America Corp DE now owns 89,332 shares of the company’s stock worth $1,534,000 after acquiring an additional 1,556 shares during the period. Institutional investors and hedge funds own 81.57% of the company’s stock.

Marcus Stock Performance

Shares of MCS stock traded down $0.28 during trading hours on Friday, reaching $26.95. 99,427 shares of the company’s stock were exchanged, compared to its average volume of 198,705. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50 day moving average is $27.60 and its two-hundred day moving average is $22.53. The company has a market cap of $837.72 million, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 1.32 and a beta of 0.58. Marcus Corporation has a 1 year low of $14.63 and a 1 year high of $32.42.

Marcus (NYSE:MCS) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. Marcus had a return on equity of 3.84% and a net margin of 3.08%. The firm had revenue of $237.75 million for the quarter, compared to the consensus estimate of $235.65 million. Equities research analysts anticipate that Marcus Corporation will post 0.83 EPS for the current fiscal year.

Marcus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 25th will be given a $0.09 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $0.36 annualized dividend and a yield of 1.3%. Marcus’s dividend payout ratio is presently 45.57%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. B. Riley Financial reiterated a “neutral” rating on shares of Marcus in a research note on Monday, October 19th. Barrington Research set a $33.00 price objective on shares of Marcus in a research report on Monday, August 3rd. Weiss Ratings raised shares of Marcus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Benchmark boosted their price objective on shares of Marcus from $22.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Zacks Research downgraded shares of Marcus from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 2nd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Insider Buying and Selling

In other Marcus news, Director Diane M. Gershowitz sold 50,000 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $27.61, for a total value of $1,380,500.00. Following the completion of the sale, the director owned 125,617 shares of the company’s stock, valued at approximately $3,468,285.37. This trade represents a 28.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.53% of the company’s stock.

About Marcus

Marcus Corporation is a Milwaukee-based entertainment and hospitality company founded in 1935. It operates through Marcus Theatres, which runs movie theaters in the United States, and Marcus Hotels & Resorts, which owns and manages hotels and resorts. Marcus Theatres offers movie screenings and related guest experiences, while Marcus Hotels & Resorts provides lodging, dining, meeting and event services. The company’s operations are concentrated in the United States, particularly the Midwest.